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Side-by-side financial comparison of ARGENX SE (ARGX) and Bath & Body Works, Inc. (BBWI). Click either name above to swap in a different company.
ARGENX SE is the larger business by last-quarter revenue ($2.5B vs $1.6B, roughly 1.6× Bath & Body Works, Inc.). ARGENX SE runs the higher net margin — 35.5% vs 4.8%, a 30.6% gap on every dollar of revenue. On growth, ARGENX SE posted the faster year-over-year revenue change (83.2% vs -1.0%). ARGENX SE produced more free cash flow last quarter ($322.4M vs $-1.0M).
AbbVie Inc. is an American pharmaceutical company headquartered in North Chicago, Illinois. They have produced drugs to treat a wide range of medical issues.
Bath & Body Works, Inc. is an American specialty retail company based in Columbus, Ohio. It owns Bath & Body Works, posted $7.4 billion in revenue in 2023, and was listed as 481 on the 2024 Fortune 500 list of largest United States companies by revenue.
ARGX vs BBWI — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.5B | $1.6B |
| Net Profit | $877.2M | $77.0M |
| Gross Margin | 89.5% | 41.3% |
| Operating Margin | 28.9% | 10.1% |
| Net Margin | 35.5% | 4.8% |
| Revenue YoY | 83.2% | -1.0% |
| Net Profit YoY | 1.3% | -27.4% |
| EPS (diluted) | $13.25 | $0.37 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.5B | $1.6B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $1.8B | $1.4B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | $1.4B | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | $901.9M | $1.4B | ||
| Q1 24 | — | $2.9B |
| Q4 25 | $877.2M | $77.0M | ||
| Q3 25 | — | $64.0M | ||
| Q2 25 | $414.8M | $105.0M | ||
| Q1 25 | — | $453.0M | ||
| Q4 24 | $865.6M | $106.0M | ||
| Q3 24 | — | $152.0M | ||
| Q2 24 | $-32.5M | $87.0M | ||
| Q1 24 | — | $579.0M |
| Q4 25 | 89.5% | 41.3% | ||
| Q3 25 | — | 41.3% | ||
| Q2 25 | 89.2% | 45.4% | ||
| Q1 25 | — | 46.7% | ||
| Q4 24 | 90.2% | 43.5% | ||
| Q3 24 | — | 41.0% | ||
| Q2 24 | 89.4% | 43.8% | ||
| Q1 24 | — | 45.9% |
| Q4 25 | 28.9% | 10.1% | ||
| Q3 25 | — | 10.1% | ||
| Q2 25 | 19.2% | 14.7% | ||
| Q1 25 | — | 24.3% | ||
| Q4 24 | 8.7% | 13.5% | ||
| Q3 24 | — | 12.0% | ||
| Q2 24 | -15.4% | 13.5% | ||
| Q1 24 | — | 23.9% |
| Q4 25 | 35.5% | 4.8% | ||
| Q3 25 | — | 4.1% | ||
| Q2 25 | 23.4% | 7.4% | ||
| Q1 25 | — | 16.3% | ||
| Q4 24 | 64.1% | 6.6% | ||
| Q3 24 | — | 10.0% | ||
| Q2 24 | -3.6% | 6.3% | ||
| Q1 24 | — | 19.9% |
| Q4 25 | $13.25 | $0.37 | ||
| Q3 25 | — | $0.30 | ||
| Q2 25 | $6.32 | $0.49 | ||
| Q1 25 | — | $2.06 | ||
| Q4 24 | $13.33 | $0.49 | ||
| Q3 24 | — | $0.68 | ||
| Q2 24 | $-0.55 | $0.38 | ||
| Q1 24 | — | $2.54 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.5B | $236.0M |
| Total DebtLower is stronger | — | $3.9B |
| Stockholders' EquityBook value | $7.3B | $-1.6B |
| Total Assets | $8.7B | $5.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.5B | $236.0M | ||
| Q3 25 | — | $364.0M | ||
| Q2 25 | $2.1B | $636.0M | ||
| Q1 25 | — | $674.0M | ||
| Q4 24 | $1.5B | $191.0M | ||
| Q3 24 | — | $514.0M | ||
| Q2 24 | $1.4B | $855.0M | ||
| Q1 24 | — | $1.1B |
| Q4 25 | — | $3.9B | ||
| Q3 25 | — | $3.9B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | — | $3.9B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | $11.0M | $4.3B | ||
| Q1 24 | — | $4.4B |
| Q4 25 | $7.3B | $-1.6B | ||
| Q3 25 | — | $-1.5B | ||
| Q2 25 | $6.1B | $-1.5B | ||
| Q1 25 | — | $-1.4B | ||
| Q4 24 | $5.5B | $-1.7B | ||
| Q3 24 | — | $-1.7B | ||
| Q2 24 | $4.3B | $-1.7B | ||
| Q1 24 | — | $-1.6B |
| Q4 25 | $8.7B | $5.0B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | $7.2B | $4.9B | ||
| Q1 25 | — | $4.9B | ||
| Q4 24 | $6.2B | $5.0B | ||
| Q3 24 | — | $4.9B | ||
| Q2 24 | $4.8B | $5.2B | ||
| Q1 24 | — | $5.5B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $323.3M | $80.0M |
| Free Cash FlowOCF − Capex | $322.4M | $-1.0M |
| FCF MarginFCF / Revenue | 13.0% | -0.1% |
| Capex IntensityCapex / Revenue | 0.0% | 5.1% |
| Cash ConversionOCF / Net Profit | 0.37× | 1.04× |
| TTM Free Cash FlowTrailing 4 quarters | $594.5M | $946.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $323.3M | $80.0M | ||
| Q3 25 | — | $-43.0M | ||
| Q2 25 | $361.8M | $188.0M | ||
| Q1 25 | — | $955.0M | ||
| Q4 24 | $41.9M | $-99.0M | ||
| Q3 24 | — | $-46.0M | ||
| Q2 24 | $-124.7M | $76.0M | ||
| Q1 24 | — | $926.0M |
| Q4 25 | $322.4M | $-1.0M | ||
| Q3 25 | — | $-99.0M | ||
| Q2 25 | $356.6M | $151.0M | ||
| Q1 25 | — | $895.0M | ||
| Q4 24 | $40.9M | $-164.0M | ||
| Q3 24 | — | $-101.0M | ||
| Q2 24 | $-125.5M | $30.0M | ||
| Q1 24 | — | $878.0M |
| Q4 25 | 13.0% | -0.1% | ||
| Q3 25 | — | -6.4% | ||
| Q2 25 | 20.1% | 10.6% | ||
| Q1 25 | — | 32.1% | ||
| Q4 24 | 3.0% | -10.2% | ||
| Q3 24 | — | -6.6% | ||
| Q2 24 | -13.9% | 2.2% | ||
| Q1 24 | — | 30.2% |
| Q4 25 | 0.0% | 5.1% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | 0.3% | 2.6% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | 0.1% | 4.0% | ||
| Q3 24 | — | 3.6% | ||
| Q2 24 | 0.1% | 3.3% | ||
| Q1 24 | — | 1.6% |
| Q4 25 | 0.37× | 1.04× | ||
| Q3 25 | — | -0.67× | ||
| Q2 25 | 0.87× | 1.79× | ||
| Q1 25 | — | 2.11× | ||
| Q4 24 | 0.05× | -0.93× | ||
| Q3 24 | — | -0.30× | ||
| Q2 24 | — | 0.87× | ||
| Q1 24 | — | 1.60× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARGX
Segment breakdown not available.
BBWI
| Bath Body Works Stores | $1.2B | 77% |
| Bath Body Works Direct | $299.0M | 19% |
| Bath Body Works International | $73.0M | 5% |
